The Securities and Exchange Board of India (SEBI) has cancelled the registrations of eight investment advisers after the firms failed to pay mandatory renewal fees required to keep their licences in force, the regulator said in its order issued on November 4, 2026, from Mumbai. The cancellations take effect immediately.

Source: Nation Press

The eight firms are Karvy Investment Advisory Services Ltd, IDFC Alternatives Ltd, Sagacis Investment Advisor, Tathastu Investment Adviser, Quant Capital, Arkanis Capital, IRA Wealth Advisor and Indianivesh Investment Managers, IANS reported. All eight failed to meet the renewal fee obligations prescribed under the SEBI (Investment Advisers) Regulations, 2013, causing their certificates of registration to cease being in force.

Source: IANS via The Freedom Press

Why the registrations lapsed

Under the 2013 Regulations, registered investment advisers must pay renewal fees once every five years to maintain valid authorisation. Non-payment automatically results in the registration lapsing, at which point SEBI proceeds with a formal cancellation order. The regulator noted that the step is designed to prevent expired certificates from being misused and to protect investors from being misled into believing these entities still hold valid SEBI approval, Nation Press reported.

Source: Nation Press

Cancellation does not end past accountability

SEBI clarified that cancellation of registration does not absolve the affected firms of responsibilities arising from activities conducted while they were registered. The eight entities must continue to maintain client records, address investor grievances, ensure continuity of services to existing clients and comply with all other applicable regulatory obligations, the regulator said. In other words, lapsing a licence ends the right to advise going forward, not accountability for the past.

Source: Nation Press

What clients should do

Existing clients of the eight firms should verify their adviser's current registration status directly on SEBI's official portal, Nation Press reported. Firms wishing to resume advisory operations will need to apply for fresh registration and demonstrate full regulatory compliance, and SEBI has not indicated any grace period for reinstatement. Registration status is a primary credibility signal for retail investors choosing an adviser, which is why the regulator periodically cleans up its advisory register when firms let their registrations lapse.

Source: Nation Press